Funding Granted For Affordable Homes At 1197 Lick Avenue, San Jose

1197 Lick Avenue1197 Lick Avenue via T Square Studio

A residential project proposed for development has received a substantial amount of financial support to reach completion at 1197 Lick Avenue in San Jose. The project proposal includes the construction of 569 residential units next to the Tamien train station.

The Core Cos. and Republic Urban Properties, are the project developers. Studio T Square is responsible for the designs.

The project site is a parcel spanning an area of 1.6 acres. The project has received financing through a state bond award. The first phase of Tamien Station, a transit-oriented residential development, has been awarded $64 million from the California Debt Limit Allocation Committee. Along with the $64 million, the project has also landed financing to the tune of $28.7 million from the Affordable Housing and Sustainable Communities program, $25 million from Santa Clara County and $17.25 million from the city of San Jose.

The 569 apartments in the project consist of 434 market-rate residences and 135 affordable units. The development will feature three residential buildings as well as a ground-floor child-care center totaling 3,000 square feet that will accommodate up to 60 students. Each of the buildings will be five stories high. The 135 affordable apartment units will be family-oriented units featuring one-bedroom, two-bedroom, and three-bedroom units, set aside for people whose household incomes range from 30% to 60% of the area’s median income. An estimated 67 of these units are allocated for the rapid rehousing of individuals.

The project will be developed in multiple phases; with plans to break ground sometime between April – June 2023. Tamien Station is served by Caltrain, light rail and buses.

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